We identify measures of shocks to total factor productivity and preferences from two real business cycle models and … measures. Our findings contrast with similar studies for other countries that question the exogeneity of either productivity or …

may then force managers to improve the productivity of the firm in order to ensure survival. While this hypothesis has … competition shocks. We find that import competition leads to productivity increases in family-managed firms that are initially … unproductive. Productivity improvements are driven by family management as opposed to family ownership or non-managing family …

We study how an optimal income tax and an optimal public-goods provision rule respond to preference and productivity …. Productivity shocks have no such implication. Second, the optimal policy gives rise to a positive correlation between the public …